If you're on the hunt for dividend income, there are four stocks going ex-dividend this week, meaning if you want to receive their payouts, now is the time to act.
ARB Corp Ltd (ASX: ARB), Sims Ltd (ASX: SGM), Myer Holdings Ltd (ASX: MYR), and New Hope Corp Ltd (ASX: NHC) are all on the radar, with their ex-dividend dates fast approaching.
Let's break it down and see what's in store for investors.
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What are ex-dividend dates, and why do they matter?
When a company announces a dividend, it sets a date known as the ex-dividend date. If you purchase shares before the ex-dividend date, you'll receive the upcoming dividend payout.
However, if you buy shares on or after that date, you'll be ineligible to receive the payment to your brokerage account.
The stock price of a company typically drops on the ex-dividend date to reflect the dividend payout as well.
So, even though you miss the dividend, the share price adjusts accordingly, keeping things balanced.
Companies on the list
With that in mind, ARB is the first on the list to go ex-dividend this week
In August, the 4×4 accessory manufacturer announced a fully franked final dividend of 35 cents per share. If you want in, make sure you own the stock before it trades beyond the eligible date on 3 October.
The payment will be made on October 18.
Meanwhile, Sims, which operates in the metals and electronics recycling business, declared a fully franked dividend of 10 cents per share in its FY24 results.
To be eligible for this payout, you'll need to hold Sims shares before they go ex-dividend on October 1st. The payment date is scheduled for October 16.
The Myer Board declared a 5 cents per share dividend in the retail giant's FY24 results. Myer shares won't be eligible for this payment beyond October 3, and the dividend will be payable on November 21.
The dividend yield on this at the current share price is 0.6% at the time of writing.
Coal giant New Hope will distribute a dividend of 22 cents per share as its next payment to shareholders.
New Hope shareholders will have to be on the register before 3 October as well, and eligible investors can expect their payout on 24 October.
Ex-dividend summary table
You can see all of the ex-dividend and payment dates in the table below. All dates are in 2024.
| Company | Dividend per share | Ex-dividend date | Payment date |
| ARB | 35 cents (fully franked) | 3 October | 18 October |
| Sims | 10 cents (fully franked) | 1 October | 16 October |
| Myer | 0.5 cents (fully franked) | 3 October | 21 November |
| New Hope | 22 cents (fully franked) | 3 October | 24 October |
Wrapping up
If you're an income investor or just keen to lock in some dividends, these four ASX All Ords stocks might be worth a closer look.
Remember, to be eligible for the dividends, you'll need to buy before the ex-dividend date.
